Monetary policy rate: Uwaleke commends CBN says decision ‘wise’

A Professor of the Capital Market, Uche Uwaleke has hailed the decision of Nigeria’s Apex Bank to retain Monetary Policy Rates (MPR) describing it as a wise decision in the face of current economic realities.

In a chat with Blueprint Tuesday, Uwaleke, saif the Monetary Policy Committees’ decision was borne out of the need to strike a balance in the ecconomy.

At the end of the two-day MPC meeting, majority members of the committee voted in favour of retaining the MPR at 11.5 per cent, as well as maintaining all other rates.

“I think a hold position was the most expedient decision to take given the prevailing economic condition of the country.

“As long as Stagflation continues to challenge the economy, the CBN’s monetary policy stance will be dictated by the need to strike a balance between tackling inflation and supporting economic growth.

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